Swami Vigyananand was addressing a summit organised by the World Hindu Economic Forum, which he heads, when he made the statement.

When the British came to India and saw how advanced it was, they coined the word “industry” after the river Indus, the Vishwa Hindu Parishad’s joint general secretary Swami Vigyananand said on Saturday. According to the Times of India, Vigyananand was addressing a summit in Bengaluru organised by the World Hindu Economic Forum, which he heads, when he made the statement.

"I am telling you the 'industry' word has come from us – Indus. We were very industrialised...that is why they used the word,” he said.

The WHEF brings together Hindu members of the business, banking, trading and related industries so they can “cooperate and collaborate globally” to “generate surplus wealth and make society prosperous”. It was set up in 2012, and often reflects on the economic contributions of Hindus through the ages.